Next profit hopes boosted by royal wedding and fine weather

Next profit hopes boosted by royal wedding and fine weather

British clothing retailer Next lifted its full-year profit hopes today after warm weather and the royal wedding bank holiday encouraged customers to spend.

The high street giant, which has suffered from mediocre sales since a dismal Christmas season, said consumers brought forward summer purchases and helped lift total sales by 5.2% in the 13 weeks to April 30.

However, Next, which has more than 500 stores in the UK and Ireland, warned it did expect the current levels of growth to continue into the second quarter and remained cautious as consumer spending is squeezed.

The company said it now expected pre-tax profits for the full year to be between £535m and £585m (€595m and €650m), around £15m (€16.6m) ahead of the guidance given in March and above market expectations.

More in this Section

Still 413,000 on Covid-19 pandemic unemployment scheme may worry new coalitionStill 413,000 on Covid-19 pandemic unemployment scheme may worry new coalition

Irish banks and housebuilders join in global stock markets rally on Covid-19 'narrative recovery'Irish banks and housebuilders join in global stock markets rally on Covid-19 'narrative recovery'

Irish housebuilding stocks rise on UK construction pick-upIrish housebuilding stocks rise on UK construction pick-up

Britain's 'Big Four' accounting firms ordered to separate audit divisionsBritain's 'Big Four' accounting firms ordered to separate audit divisions


Lifestyle

Liz O’Brien talks to Niall Breslin about his admiration for frontline staff, bereavement in lockdown, his new podcast, and why it's so important for us all just to slow down.Niall Breslin talks about losing his uncle to coronavirus

Podcasts are often seen as a male domain — see the joke, 'What do you call two white men talking? A podcast'.Podcast corner: Three new podcasts from Irish women that you should listen to

Esther McCarthy previews some of the Fleadh’s Irish and international offerings.How to attend the Galway Film Fleadh from the comfort of your own couch

Whether you’re on staycation or risking a trip away, Marjorie Brennan offers suggestions on novels for a wide variety of tastesThe best fiction books for the beach and beyond this summer

More From The Irish Examiner